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my dad wants to invest £5000, which is the best way for him to go about it?
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fitnessguy1
Posts: 551 Forumite
okay, so he has £5,000 he would like to invest and make a return on into his retirement. which would be the safest/best investment option for someone like himself who is a beginner to investing money?
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Whatever he invests in, £5k is not going to make him rich lol..............
No one can say where to put his money, he has to research himself.make the most of it, we are only here for the weekend.
and we will never, ever return.0 -
no, but he would like to make a small return every year if possible from it so he is still making some money long into his retirement.0
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Define "small". If 4-5% AER is his idea of small, then stick to current accounts. If he still insists on an "investment", how much of the £5K capital would he be prepared to risk losing over, say, the next 12 months...in search of a greater than 4-5% return over the same period?fitnessguy1 wrote: »no, but he would like to make a small return every year if possible from it so he is still making some money long into his retirement.0 -
fitnessguy1 wrote: »okay, so he has £5,000 he would like to invest and make a return on into his retirement. which would be the safest/best investment option for someone like himself who is a beginner to investing money?
Has he got other savings elsewhere? The reason I ask is, given that your father is retired, and if he doesn't have that much, he may want to avoid capital losses, in which case, he might be better simply depositing it in some of the high street banks offering decent savings interest.
Personally I don't have that much in cash, but I am only 58, and when I get into my 70's I will be looking for a safer home than property and shares (where I am currently invested). Actually I will probably be getting out of property in the next few years.Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0 -
How "hands on" is your dad prepared to be, and what is the minimum return you'd be willing to settle for?: )0
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How old is he? Is he employed/self-employed/retired? What is his tax band? Are there any debts/mortgage? What emergency budget does he have? when is he expecting to start drawing the income?0
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Lots of reading for him at http://monevator.com/Eco Miser
Saving money for well over half a century0
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